Google is investing in Walmart-owned Flipkart

Flipkart, the Indian e-commerce marketplace owned by Walmart, has raised investment from multinational technology company Google.

The retailer, which published a brief statement on its website, said it would add Google as a minority investor.

Flipkart did not disclose the investment value, but a Reuters report shows that the tech giant is investing $350 million, valuing the Indian e-commerce company at $37 billion.

The investment is part of a nearly $1 billion funding round initiated by Flipkart in December last year.

Walmart led a $600 million investment round late last year.

As part of the deal, Google will also provide cloud services to Flipkart.

The e-commerce market will leverage collaboration on investments and cloud services to optimize its digital infrastructure and accelerate its modernization to serve its growing customer base across the country.

The Bengaluru-based company, which competes with Amazon in India, has been the subject of IPO speculation since its acquisition of Walmart.

As reported by Reuters, U.S. retail executives recently indicated that they are examining the optimal timing for Flipkart’s market debut.

With over 500 million registered users and over 1.4 million sellers on its platform, Flipkart is one of the leading digital commerce marketplaces in India.

The marketplace where Shopsy sellers are located offers a wide range of products in over 80 categories.

It recently announced the launch of Flipkart IRIS, an analytics platform designed to provide brands with valuable data to inform their strategies and drive growth on the e-commerce platform.

“Google invests in Walmart-owned Flipkart” was originally created and published by Retail Insight Network, a brand of GlobalData.

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